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Generally American and European anti-trust law as currently interpreted only cares about harm to the consumer.

Less competition is generally harmful to the consumer.

conceptually. However, the metric we use to dictacte that conceptual argument is what screws us (Americans). We have chosen increase in price as the primary metric.

It becomes the responsibility of the accuser to prove and provide evidence of increased prices based on monopoly position. The Exponent podcast did a nice description of this last summer I believe (not sure what episode).

At least in Europe Google has been successfully sued by competitors.

This kind of move is unlikely, nearly no one is running "legit" ad business. No one would like to to be under a microscope either.

Technically the advertising industry is behind this move. Whether or not that will hold in court, it remains to be seen.